Contracts Flashcards
6 cards from real ID BAR practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Contracts flashcards as text
Under UCC Article 2, the 'battle of the forms' provision (§ 2-207) provides that between merchants, additional terms in an acceptance:
Answer: Automatically become part of the contract unless they materially alter it or are objected to
Under UCC § 2-207(2), between merchants, additional terms in an acceptance become part of the contract unless they materially alter it, the offer limits acceptance to its terms, or the offeror timely objects.
Which remedy allows a court to rewrite a contract to reflect the parties' true intent when the written agreement does not accurately reflect their agreement due to a mutual mistake?
Answer: Reformation
Reformation allows a court to modify the written contract to conform to the parties' actual agreement when the writing fails to accurately reflect their mutual intent due to mistake or fraud.
An assignment of contract rights is generally effective without:
Answer: Consent of the obligor
A valid assignment of contract rights does not require the obligor's consent — only notice is recommended to protect the assignee, but consent is not required for the assignment to be effective.
Under the common law, a liquidated damages clause is enforceable only if:
Answer: Actual damages were difficult to estimate and the stipulated amount is a reasonable forecast
A liquidated damages clause is enforceable when (1) damages were difficult to estimate at contract formation and (2) the stipulated sum represents a reasonable forecast of actual damages — not a penalty.
Which of the following contracts is within the statute of frauds under the common law?
Answer: A contract that cannot be performed within one year from its making
The one-year provision of the statute of frauds requires a writing for contracts that cannot possibly be performed within one year from the date of making.
A third-party beneficiary can enforce a contract against the promisor when:
Answer: The third party is an intended beneficiary under the contract
Only intended beneficiaries — those whom the contracting parties specifically intended to benefit — have enforceable rights; incidental beneficiaries have no contract rights.